What Percentage Does Gofundme Take

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What Percentage Does GoFundMe Take?

Platform Fees

GoFundMe charges two main types of fees: platform fees and payment processing fees.

Platform fees are a percentage of the total amount raised and are used to cover the costs of operating the platform. The platform fee is currently 5%.

Payment Processing Fees

Payment processing fees are charged by the payment processor (e.g., Visa, Mastercard) and are used to cover the costs of processing the donations.

The payment processing fee is currently 2.9% + $0.30. This fee is charged on each donation, regardless of the amount.

Total Fees

The total fees charged by GoFundMe are a combination of the platform fee and the payment processing fee.

For example, if you raise $100 on GoFundMe, the platform fee would be $5 and the payment processing fee would be $2.90 + $0.30 = $3.20. The total fees would be $5 + $3.20 = $8.20.

Impact of Fees on Fundraising

The fees charged by GoFundMe can impact your fundraising efforts. If you are looking to raise a large amount of money, the fees can reduce your take-home amount.

However, it is important to remember that GoFundMe is a valuable platform for raising funds. The platform offers a wide reach and a variety of fundraising tools that can help you achieve your goals.

Tips for Minimizing Fees

There are a few things you can do to minimize the fees charged by GoFundMe:

  • Set a fundraising goal that is realistic and achievable.
  • Promote your fundraiser to your friends, family, and social media followers.
  • Use a variety of fundraising tools and incentives to encourage donations.
  • Consider using an alternative fundraising platform that charges lower fees.

Conclusion

GoFundMe is a valuable platform for raising funds, but it is important to be aware of the fees associated with using the platform. By understanding the fees and taking steps to minimize their impact, you can increase the amount of money you raise for your cause.

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